Entrepreneurial Idea Report: Hungry and Thirsty Fast Food Outlet

This report outlines an entrepreneurial venture: a fast-food outlet named "Hungry and Thirsty" to be established in London. It begins with an introduction to entrepreneurship development, emphasizing the need for managerial skills and customer understanding. The report then details the unique value proposition, focusing on defining the target audience (adults aged 25-40), analyzing competitors, and identifying product needs to establish a competitive edge. The report further explores development pathways, including cognitive and organizational perspectives. The cognitive perspective is analyzed through self-efficacy and cognitive styles, while the report also proposes alternative pathways for the business. The objective is to provide an actionable business plan, emphasizing innovation, customer satisfaction, and strategic positioning to achieve success in the competitive London market.

ENTREPRENEUR
DEVELOPMENT

Table of Contents
SECTION 1......................................................................................................................................3
INTRODUCTION...........................................................................................................................3
SECTION 2......................................................................................................................................4
Description on the unique value proposition of entrepreneurial idea.....................................4
SECTION 3 .....................................................................................................................................6
Development in partway that propose to take proposal, taking into account and define at least
one alternative pathway..........................................................................................................6
SECTION 4......................................................................................................................................9
REFERENCES..............................................................................................................................10

SECTION 1
INTRODUCTION
Entrepreneurship development is process that inclusive if skills and knowledge of
entrepreneurs for playing their role effectively (Shirokova, Tsukanova, and Morris, 2018). To be
the successful entrepreneur it is crucial to have managerial skill and strong team buildings. Thus,
performance is dependent on the ability and willingness to perform activities effectively. In this
present scenario, they face the tough competition in order to sustain and make mark in the global
market. In addition to it, effective leadership attributes are sign of successful entrepreneurs. The
entrepreneur to the enterprise should have the capability in order to understand the need and
demand of the customer in the market. In this report, enterprises has selected one enterprise as
Fast Food outlet service of UK London.
In order to execute the business activities in the proper manner the effective steps are
needed to be taken in terms to opportunity formation and developments. This will be helpful in
order to initiate the business activities in the expertise manner. The develop activities can be
taken effectively in term as product development, Market development and organizational
development activities. In order to take the development plan successfully it is essential to
develop the business plan effective in terms of evaluating the strength and minimise the
weakness so that activities can be taken in the effective as well efficiently manner. In addition to
it, creation of business plan will be helpful in order to frame the functioning of the business in
the expertise mode.
The present assignment will based on identifying new idea to initiate any business
activities, in this they need to suggest any innovative idea that could helps to bring success to
market. The main mission statement of New entrepreneur idea should be as to understand the
customer proper so that better steps can be taken. Furthermore, it can be said that the design and
development plan section will be helpful to provide investors with description. Thus, report will
look upon the things as are new ideas and its proposed development, description about the
product, services and organisation process (Acs and et.al., 2018). In this, it can be said that the
creativity is the root of entrepreneurship. The discussion is need to be provide on how the
initiatives will be taken into develop the idea in significant manner. Lastly, it can be said that
business strategy must be effective in terms to provide the quality information to the target

clients customer in order to satisfying the needs. The present report has include the activities as
to put major focus over the development program so that firm can able to initiate its business
activities in the proper manner. Furthermore, it is essential to take development plan and
alternative development program to conduct the business activities in the effective and efficient
mode. The two perspective will be taken as cognitive and organization perspective.
SECTION 2
Description on the unique value proposition of entrepreneurial idea.
Business idea- To launch any idea in order to proceed business activities is essential and
it can come from anywhere from personal skills, experience, mass media, hobbies and talents etc.
it is need to be framed in effectively so that activities relates to it can be conducted in easy and
attractive manner. In this way, here we have decided to start a new business as fast food services
and that has to established in London. In order to execute the business activities as fast food
outlet services the location has to be decide and that is one of the mos crucial decision. Thus,
firm will be names as “Hungry and Thirsty”. In addition to it, this can be said that the London is
one of the famous destination in terms to visit purpose by tourist. Thus, it has decided to open
new venture at the posh area where number of visitors uses to visit. The one of the foremost
thing is to decide the ideal location of the enterprise so that firm is able to meet the set challenges
in the market. The easily accessible restaurant can have the effective brand image in the market
so it can be possible to run the organisational activities effectively.
At the Initial stage they entrepreneur has decided to offer attractive combo offers at
discounted rates and they also plan to link themselves with online food services so anyone could
order at any time. To make this plan successful it is essential to identify the perception of the
customers so that attractive steps can be taken. The need to be managed in well and effective
manner. The services must be provide in quality manner so it will help to attract the number of
customer in the market. In addition to it, this can be said that effective step can be taken in order
to perform business activities in well and effective manner.
In this way, it can be said that entrepreneur has decide to provide value proposition in
their services to deliver the customer post purchase. It is one of the effective technique that helps
to deliver attractive services services to buyers. It is kind of explicit value that good and services
provide to the customers. Thus, string value proposition will be helpful in terms to meet the
criteria and it has been discussed in following manner as are-

Define Target audience- In order to create the effective value proposition it is essential to select
the target audience. To run business activities effectively it is essential to identity the target
customer. In this, adults of the age between 25 to 40 has been selected. With help of it, enterprise
can easily meet their demands and able to provide appropriate services. It is essential to identify
the target audience of the market so that effective plan can be frame to run the business activities
in the expertise mode. It has decided to open the Food outlet services in the London and in order
to promote this activities effectively it is essential to identify the need and wants of the
customers.
Know your competitors- In terms to have the separate identity from the rivalries in market, it is
essential to have proper idea about them. The high competition is one of the biggest challenge of
the restaurant industry (Management: perspective and practice, 2018.). This will be helpful to
attract the customers in the market. By analysing the strength of the firm the firm can be capable
in order to run business activities expertly. To get cope up with it, this is essential to bring that
kind of modification that helps to keep aside value. In this manner they are able to facilitate the
working in efficient manner. Thus, before setting up the organisational activities it is essential in
order to know the competitor of the same outlet. With help of it, effective steps can be taken in
order to satisfy the customers.
Define the needs of products and business meets- In order to carry out activities effectively, it
is essential to understand the needs of products and modification relates to it. It can be identify
with help of taking feedback from the customers so that loopholes can be mitigated effectively.
Thus, it is crucial to identify the needs of the commodities. In addition to it, this can be said that
the descriptive style of the service, promptness will be essential to communicate the conceptual
image of the enterprise. This will be helpful in order to analyse the demand of the customer in
the market.
To define Why are you unique- It is essential to know the customer about to uniquely solve
their problem. By let them know about the value of the product the firm can able to attract the
audience in market. Thus, new venture should add some uniqueness in commodities so that
potential buyers can get attracted towards it. In the firm, it is need to be defined that why the new
outlets services are unique in market. This will be helpful in order to promoting the thing in the
effective as well efficient mode. In this, it can be said that the innovations are needed to be taken
in order to keeping cost low and menu design in the place.

Quantify value- The value propositions are one of the most compelling at the time of targeting
the audience. To make the better understanding with the finance is essential in order to run the
firm in the successfully manner. It is crucial that entity always have adequate amount of funds so
that they can able to start up the business effectively. In addition to this, it can b e said that it is
essential to lead the team effectiveness and stay organized is crucial to develop the business idea
in the expertise mode.
SECTION 3
Development in partway that propose to take proposal, taking into account and define at least
one alternative pathway.
In order to promote the entrepreneurship idea, it is essential to undertake the business in
effective manner. The venture development program are needed to be taken with the help of the
proper consideration. In this, there are some perspective that has been presented in the below
context manner as are-
Cognitive Perspective- The cognitive approach uses the cognitive perspective of entrepreneurs to
study and to explain the behaviour in terms to identification of the opportunities and creation of
business and business growth (Estrin, Mickiewicz and Szerb, 2018). The cognitive perspective
to the enterprise is kind of response to the limitation of the trait approach. In this way, the main
process is as Scripts, Self efficacy, Cognitive styles and Heuristics. With help of developing the
entrepreneur cognition will work as to represent the potential and productive field of research.
It is very helpful in order to understanding the individuals behaviours, considering their
mental processes at the time they use to get interact with the people. This is effective in order to
address the environment in which the mental processed and interaction took place. In addition to
it, this can be said that the theory of the social cognition will be helpful in order to introduce the
idea of knowledge structure. The cognition plays the essential role in terms to certain aspects of
the cognitive aspects. There are differed thing that will help to process the entrepreneurship
activities effectively and it is defined in the following manner as are-
 Self efficacy- In this, it can be stated that self efficacy has become the essential variable
that considered as cognitive study of entrepreneurship behaviour. Thus, it can be said that
the self Efficacy will be helpful in order to develop the self belief in the one's ability to
adopt the role and conduct the task of the entrepreneur successfully. This is effective in
terms to differentiate entrepreneurs from the managers and it is function that also works

as to correlates with the intention of owning the business activities in the proper and
effective manner (Shirokova, Tsukanova and Morris, 2018). In this, it can be stated that
the understanding of the experiences about the conceptualisation, early development and
growth of success plays effective role in terms to functioning of the entrepreneur group.
The main aim of this theory is to develop the knowledge and skill of the entrepreneur in
terms to understand the depth about the new outlet services of food in London.
 Cognitive style- It is defined as way that people perceive environmental stimulation. The
successful entrepreneur always works as to enjoying the discovering opportunities, being
innovator, taking risk and in order to run the enterprise activities in the effective manner.
In addition to this, it can be said that they must have the attitude as to bring the
uniqueness to the product so that the idea and plan can be successful and firm can able to
run their activities effectively. In this order it can be said that the creative style is
characterized by holistic and conceptual thinking. Thus, the entrepreneur to the firm must
be as ambitious and achievement oriented. The effective entrepreneur has the ability to
the have the integration of the the analytical and intuitive processing style is required to
process the information about the idea so that activities can be taken successfully in the
market (Hacklin, Björkdahl and Wallin, 2018).
 Planning fallacy- It is cognitive aspect that relates to the error of planning. It has the
tendency to believe that this has the tendency to believe that one can achieve the more in
the given period of the time. In this, people work as to do the things effectively with the
proper mental ability. In this step. The entrepreneur works as to plan all the things in the
effective manner so that things can be undertaken effectively in terms to operate in the
dynamic and certain environment.
The alternative development pathway-
Organisation perspective- The another perspective can be taken in order to run out the
things in the effective manner. It is inclusive of the information that relates with interface refers
to present the information that is visible, accessible and usable by the users (Pedersen, Gwozdz
and Hvass, 2018.). In this, it can be said that the entrepreneurship tendency can be termed out as
procedures and decision making actions that would be helpful in order to lead the
entrepreneurship activities in the organisation effectively. The all activities are needed to be
taken in the expertise mode so that all things can be done in the effective and efficient mode.

Thus, it can be said that the all things will be helpful in order to adopt the suitable strategies so
that things can be done in the effective and efficient mode. The propose business development
program is to propose activities for the food outlet services so that things can be done in the
effective and efficient mode ( Littlewood and Holt, 2018). As per the organisation perspective
there can be classification of the entrepreneurship activities in the following manner as are-
It can be stated as that one person works as to creates the risky innovative entrepreneurship and it
can be because of the developing the new business activities in the effective manner so that there
can be innovation of the entrepreneur activities in the effective manner.
Group entrepreneur- It is activity that can be formed in the manner of team and helps to create
an innovative entrepreneurship program (Gümüsay and Bohné, 2018). This will be effective in
order to do the each thing in the expertise mode.
Organizational approach- To be the successful the organisation follows the effective
entrepreneurship approach and provide the several number of perquisites so that things can be
undertaken effectively and efficiently.
Furthermore, it can be said that the individual entrepreneurship means creating and organizing
the new business activities effectively or to established the company in the appropriate mode.
This kind of entrepreneurship approach will be helpful in order to develop new activity so that all
all the things can be done in the expertise mode (Nabi and et.al., 2018). It is the kind of process
in which it is essential to recognize the growth and development chances in order to create the
new values for the customer with the more unique and re-allocating the all resources. In order to
frame the each activity in the expertise mode it is crucial to have the high rate of development.
Necessity of Organization entrepreneurship- The necessity of the organizational entrepreneurship
will be helpful due to the incompatibility and slow reaction of the medium and large enterprise
in comparison to the daily increment, rapid, complex and unreliable changes in the environment
and there must be introduction of the fast actions and innovation is the one of the core factor in
order to run the all activities in the expertise mode. In the present scenario, there are number of
the firms who have noticed the necessity of corporate entrepreneurship. Thus, it has been defined
in the following manner as are-
 There must be rapid increment in the new competitors.
 Destruction in the traditional methods of the companies.
 There must be leaving of the best labours and their independent entrepreneurship.

SECTION 4
CONCLUSION
Based on the above report it can be concluded that entrepreneurship development
program will be helpful in order to run the business activities in the effective and efficient mode.
It is process that is inclusive of the skill and knowledge of the person in order to frame out the all
things in the effective manner. Thus, the performance is dependent on the willingness to perform
the activities in the expertise mode. The entrepreneurial activities are must be task oriented and
accurate. With help of the effective opportunities and challenges things can be undertaken in the
effective manner. The present report is dependent over the value proposition and uniqueness to
one particular innovative entrepreneur idea. In addition to it, report has been covered the things
as are innovation approach to product and two development perspective as cognitive and
organization perspective. This report has made with the perception of making the effective
business proposal.
Reflection-
The present report is based on the entrepreneur development program. This will be
helpful in order to develop the organisation activities in the systematic mode. Thus, there is two
developmental program that will works as to formulate the all the things in the expertise mode.
In this, I have selected the two approach as are cognitive perspective and organisation
perspective so that things can be done in the expertise mode. In order to make this plan more
effective, I have selected the plan as Food outlet services in London and this will be helpful in
order to conduct the things in the appropriate mode. The organisation will be named as the
Hunger and Thirst. This is effective way in order to frame each thing in the efficient mode.

REFERENCES
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Online
Management: perspective and practice. 2018. [online] Available through:<
https://www.open.edu/openlearn/ocw/mod/oucontent/view.php?id=1446&printable=1>.